5. From the following Trial Balance of M/s. Kale and Gore, you are required to prepare

5. From the following Trial Balance of M/s. Kale and Gore, you are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2013 and Balance Sheet on that date. They share profits and losses in their capital ratio.

Adjustments:

1) Closing stock was valued at cost Rs. 76,000 while its market price was Rs. 80,000.

2) Uninsured goods worth Rs. 10,000 were stolen.

3) Goods worth Rs. 10,000 were sold and delivered on 31st March, 2013, but no entry is passed sales book.